[Domoic]

The reason I ask is that I have a 2008 RRS HSE + Lux + Rear Seat Entertainment.

Lease expires mid-2010.

It is near mint and will have less than 10,000 miles when I turn it in.

At that point, I plan to lease a new 2010 model.

Will the dealer be incentivized to give me good deal on the new vehicle given that I am handing them a gem for which they should be able to sell for top dollar? Or does the vehicle I am turning in go to some central pool of vehicles nation wide and so my dealer could care less?

Do I have any significant leverage here?

Thanks for your help.

 

[gooseyloosey]

Re: What happens to the vehicle after you turn it in post-lease?

Well the good news is the inspector will only somehow find the one spot on one tire with less than the minimum 4/32 tread depth and you will only be on the hook for new tires when you turn it in.

But seriously, it doesn't help you to under-use/abuse a vehicle that's on lease. The leasing finance company, not the dealer owns it.

But, I'm sure they'd love to have you lease another one!

 

[Frisco_TX_RRS]

Re: What happens to the vehicle after you turn it in post-lease?

It will most probably end up at the auto auctions ( Manheim \ Adesa) where most dealers buy their cars from. The lease company puts it up for grabs for any used car dealers includingt he local LR dealer.

I've seen LR used car mamangers at these auctions trying to buy used / lease returns to get into their inventory.

 

[gooseyloosey]

Re: What happens to the vehicle after you turn it in post-lease?

It will most probably end up at the auto auctions ( Manheim \ Adesa) where most dealers buy their cars from. The lease company puts it up for grabs for any used car dealers includingt he local LR dealer.

I've seen LR used car mamangers at these auctions trying to buy used / lease returns to get into their inventory.

Also, with the USD doing its very best imitation of Wile E. Coyote stepping off a cliff, overseas buyers have been very active in the US auction/used market.

If you promise to treat the new '10 as nice as the '08, I could be tempted to set up the Gooseyloosey Lease and Finance Company, LLC and you could be my first customer.

 

[Domoic]

Re: What happens to the vehicle after you turn it in post-lease?

I've seen LR used car mamangers at these auctions trying to buy used / lease returns to get into their inventory.

Interesting.

This would suggest that my dealer could "work with me" - I buy out my lease and flip it to them? With a modest profit for both of us??

 

[GuNBeeM]

Re: What happens to the vehicle after you turn it in post-lease?

I had a similar situation on my 2006 BMW M Roadster. When I returned my leased BMW with only 12,000 miles BMW Financial Sevices basically they said there is a program called good will something... All that meant was if there was bigger damage/dent etc. than the lease allows they let you off on it. That's all... Not sure for Land Rover though. Did nothing for me because my M Roadster was in 100% perfect condition.

 

[umbertob]

Re: What happens to the vehicle after you turn it in post-lease?

I agree with the above, unless they can stick you with excessive wear and tear, mileage overage, or body damage that a quarter cannot cover :wink: , as far as the dealer is concerned you might as well be returning a sack of potatoes. Dealers don't keep the car and just ship it back to wherever the owner (whoever the lessor on your contract happens to be) tells them to ship it to.

 

[Frisco_TX_RRS]

Re: What happens to the vehicle after you turn it in post-lease?

Also, with the USD doing its very best imitation of Wile E. Coyote stepping off a cliff, overseas buyers have been very active in the US auction/used market.

True - there is a lot going to oversea's markets.

Sometimes you see LR doing a bulk sale of all their Lease Returns or the dealers getting rid of their trade-in's, the best auction I've seen so far for Mercedes and LR's are in Riverside,CA.

Btw, when you trade in the car, the value they usually provide is the auction value, in the event they want to unload the car at the auction - not the Blue book or the Kelly book etc. Let me know if anyone is interested - I can tell you what the values are.

Eg. below is what is being sold in Riverside and Dallas auctions right now - mmr is the expected price to pay based on national avg.

2008 LAND ROVER RANGE ROVER SPORT HSE
SALSK25498A135759
Green | Beige
MMR: $41,300
Land Rover Dallas

2008 LAND ROVER RANGE ROVER SPORT HSE
SALSK25478A125814
23,872
MMR: $40,900
Ford

2008 LAND ROVER RANGE ROVER SPORT Supercharged
SALSH23458A176780
White | -
26,801
MMR: $46,200
BAILEY AUTO PLAZA

LAND ROVER RANGE ROVER SPORT HSE
SALSF25478A146571
Silver | Black
32,066
MMR: $37,500
Dallas Roadster

2008 LAND ROVER RANGE ROVER SPORT Supercharged
SALSH234X8A145833
- | -
45,426
MMR: $42,400
Ford OVE.com

2006 LAND ROVER RANGE ROVER SPORT Supercharged
SALSH234X6A959378
- | -
17,575
MMR: $36,400
Ford

LAND ROVER RANGE ROVER SPORT HSE
SALSF25486A972424
- | -
20,663
MMR: $32,600
Ford

2006 LAND ROVER RANGE ROVER SPORT HSE
SALSF25416A950880
Blue | Gray
29,422
MMR: $31,500
US Bank

2006 LAND ROVER RANGE ROVER SPORT Supercharged
SALSH234X6A903425
Blue | Beige
31,772
MMR: $34,900
US Bank

2006 LAND ROVER RANGE ROVER SPORT HSE
SALSF25436A969950
Silver | Black
35,604
MMR: $30,900
TRC MOTORS

2006 LAND ROVER RANGE ROVER SPORT HSE
SALSF25476A973192
- | -
37,733 Manheim
MMR: $30,700
Ford